Emiri Diwan Economic Adviser Dr Ibrahim Ibrahim speaks at the QFC Networking event.
How non-hydrocarbon sector can strengthen its contribution to the local economy’ will be the major focus of Qatar’s soon-to-be-launched Qatar National Development Strategy 2017-2022 (QNDS 2017-2022).
The strategic document will discuss the role of private sector in further leveraging its role in the national economy, Emiri Diwan Economic Adviser Dr Ibrahim Ibrahim has said.
Delivering the key note address at the 16th edition of the QFC Authority’s networking event for business and professionals, Dr Ibrahim Ibrahim said the government is working on six comprehensive strategies for six priority sectors identified as: the manufacturing industry, scientific and professional activities, financial services, information and communications, tourism and logistic services.
The government is also working on broad regulations to identify the nature of the relationship in public-private partnerships ventures. The private sector is called upon to support the government in these endeavours and to increase its investment in these sectors and to strengthen their participation in the public-private partnerships ventures.
The latest edition of QFC networking event was held under the theme of “Qatar’s businesses in today’s economy” and aimed at showcasing growing opportunities in Qatar. The event was sponsored by Thomson Reuters and AstroLabe.
Addressing the event, the Qatar Financial Centre (QFC) Authority Chief Executive Officer, Yousuf Mohamed Al Jaida said the QFC is an important component of the domestic economy, and will continue to support Qatar in growing its private sector, promoting diversification and attracting foreign investment.
“Qatar’s economy has shown great resilience in the past few months. Despite current regional uncertainties, business continues as usual for the QFC and Qatar is open for business. We remain focused and committed to our growth and that of our firms,” Al Jaida said.
William Grant, Chargé d’Affaires, US Embassy in Qatar said: “We value our work with QFC and hope to continue working closely to bring even more US firms to Qatar. There are over 100 American companies operating currently in Qatar, most of which provide some of the best financial, investment and consulting services available in Qatar today. This is the US Embassy’s second event with the QFC just this month.”
“Last week, we partnered on a conference to expand business and investment opportunities in both the U.S. and Qatar. That conference brought together over 100 U.S. and Qatari business people from across a range of business sectors. I can tell you that the relationship between our two countries is strong and getting even stronger across many lines of effort,” Grant said.
During the event, the QFC acknowledged eight of its longest standing firms, who joined its platform during the first year of its establishment. These included the Arab Jordan Investment Bank (Qatar) LLC, Credit Suisse (Qatar) LLC, the Arab Law Bureau LLP, PricewaterhouseCoopers Qatar LLC, Eversheds Legal Services (Qatar) LLC, Morgan Stanley & Co International PLC, Axa Insurance (Gulf) BSC, and Bank Audi LLC.
Commenting on their sponsorship, Thomson Reuters Country Manager Ahmed Hafez said: “At Thomson Reuters, we truly value the support, cooperation and dedication we receive from the QFC that help us to enhance and grow our commitment and engagement in Qatar. We look forward to many years of working and partnering with QFC.”
Astrolabe Capital LLC Managing Director Ameed Hamed Al Hussein said: “Astrolabe Capital LLC is proud to have set up in Qatar at a time of regional uncertainty, which is further proof of the importance of the Qatari market and the growing number of opportunities it provides. The government’s quick and decisive response shows its determination to succeed and surpass this crisis, and to provide and maintain an ideal business environment for businesses in Qatar.”
